EAM SOLAR ASA HIGHLIGHTS Q2 2021 EBITDA for the quarter was minus EUR 337 thousand and accumulated for the year minus EUR 824 thousand. Normal operations, adjusted for legal costs resulted in an EBITDA ofEUR 86 thousand for the quarter andEUR 69 thousand for the year, equivalent to an adjusted EBITDA margin of 22 per cent and 11 per cent respectively. Cost of operations and SG&A were EUR 60 thousand andEUR 236 thousand for the quarter andEUR 106 thousand and EUR 467 thousand accumulated for the year respectively. Legal costs wereEUR 423 thousand in the quarter andEUR 893 thousand accumulated for the year respectively. On Friday 28 May,EAM Solar ASA filed a private criminal proceeding for the crime of serious fraud against the companyEnovos Luxembourg SA inOslo District Court . On 23 June the appeal of Arbitration decision "8816" of 2019 inMilan was dismissed by theCivil Appeal Court of Milano . The Arbitration decision "8816" of 2019 is still not final since EAM may decide to appeal the dismissal by the Civil Appeal Court in Milan to theSupreme Court . On1 June 2021 EAM Solar ASA submitted an appeal of the Milan Criminal Appeal Court ruling to theSupreme Court of Cassation . On12 July 2021 The Administrative Court ofLazio (TAR) has decided in a court ruling that the termination decision made by GSE on the FIT contract for ENFO25 inSeptember 2019 is invalid and consequently cancelled. For further information, please contact: Viktor E Jakobsen, CEO, phone +47 9161 1009, viktor@eam.no AboutEAM Solar ASA :EAM Solar ASA is a utility company that acquires and operates solar power plants. The Company currently owns solar PV power plants inItaly . The plants are operating under long-term sales contracts. In addition, the Company's business is lawsuits in relation acquisition of solar power plants. This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Click here for more information
© Oslo Bors ASA, source
